Greenpeace: new campaign to reduce Bitcoin’s energy use
Greenpeace: new campaign to reduce Bitcoin’s energy use
Bitcoin

Greenpeace: new campaign to reduce Bitcoin’s energy use

By Stefania Stimolo - 4 Apr 2022

Chevron down
Listen this article
download

Greenpeace is talking about Bitcoin and announcing a new campaign “Change the code, not the climate”, aimed at reducing the energy use of BTC mining to be less harmful to the environment. 

Greenpeace and the new Bitcoin mining campaign

Greenpeace, an independent global network involving 26 national/regional organisations in over 55 countries, tweeted about Bitcoin to launch its “Change the code, not the climate” campaign:

“BREAKING: Bitcoin uses more energy than some countries, it’s resurrecting closed fossil fuel plants and driving climate devastation. Now, we’re joining with @ewg to reduce Bitcoin’s energy use by 99.9%”.

This would involve a change in software, or rather “protocol”, that would mean the queen of crypto would no longer have to be “mined” using as much energy as it does now. 

In the video, Greenpeace compares the amount of energy needed to mine Bitcoin to the total energy use in a country like Sweden. 

The campaign to make BTC more environmentally friendly was launched by Greenpeace, along with other climate activists and the co-founder of the Ripple money transfer system, Chris Larsen

Bitcoin svezia
Bitcoin consumes more energy than Sweden

“Change the code, not the climate” and interview with Rolf Skar

According to an interview with Greenpeace’s Campaign Director Rolf Skar, the new campaign “Change the code, not the climate” would like to bring Bitcoin’s Proof-of-Work (PoW) to become a Proof-of-Stake (PoS), just like Ethereum is trying to do. In this way, the huge energy use or the use of that polluting fuel, would be reduced by 99%.

Greenpeace has also joined the Environmental Working Group and anyone who wants to join the campaign or wants to know more can do so by going to the official website.  

Skar also clarified that “banning Bitcoin mining”, as China did in 2021, would not make sense. In fact, just as it happened, miners moved elsewhere. This indicates that “banning” is not the solution. 

Only two million BTC away from max supply 

Greenpeace’s appeal to miners, comes just when there are only two million Bitcoins left to mine. In fact, as of today, 19,002,284 BTC have already been created

As is well known, the BTC cap is 21 million and, at the moment, 6.25 BTC are mined for each block mined and added to the Blockchain, for a total of about 900 BTC per day

Obviously, with the next halving scheduled for April 2024, the current rate will be halved to 3.125 BTC per mined block. The halving usually also affects the price of Bitcoin which, at the time of writing, is $46,162. 

Stefania Stimolo

Graduated in Marketing and Communication, Stefania is an explorer of innovative opportunities. She started out as a Sales Assistant for e-commerce, and in 2016 she began to develop a passion for the digital world, initially in the Network Marketing sector, where she discovered and became passionate about the ideals behind Bitcoin and Blockchain technology, which lead her to work as a copywriter and translator for ICO projects and blogs, and organize introductory courses.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.